The EU Needs a Social Investment Pact
European Social Observatory (OSE) opinion paper, No. 5, 2011
25 Pages Posted: 1 Aug 2017
Date Written: May 01, 2011
Abstract
In this Opinion Paper, we argue that long term-goals of social and economic policy in the EU must not fall victim to short-term policy orientations prompted by the banking crisis that hit the global economy in 2008 and the subsequent financial and fiscal problems affecting the Eurozone and the EU at large. We capture these long-term goals with the notion of a 'social investment imperative'.
Social investment is not a new idea per se. We first revisit the social investment perspective as proposed towards the end of the 1990s and draw some lessons from past experience. We maintain that a social investment impetus, given Europe’s adverse demography, is today more acute than ever before. Subsequently, we examine how a renewed social investment perspective can be rescued from one-sided policy orientations prompted by the economic crisis.
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